03:51 PM EST, 12/20/2024 (MT Newswires) -- Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.1%.

The Philadelphia Semiconductor index popped 1.7%.

In corporate news, Texas Instruments ( TXN ) shares rose 1.2%. The company and the US Department of Commerce said Texas Instruments ( TXN ) was awarded up to $1.6 billion in direct funding for new semiconductor manufacturing facilities.

FingerMotion ( FNGR ) shares plunged 44%. The company said it agreed with investors to raise $5 million in gross proceeds from the sale of common stock and warrants in a registered direct offering.

Nvidia's ( NVDA ) proposed acquisition of Run:ai Labs was approved unconditionally by the European Commission, according to a statement by the Commission. Nvidia ( NVDA ) shares gained 2%.

Joby Aviation ( JOBY ) shares jumped 7%. The company said it has entered the final certification phase for its electric air taxi by conducting its first US Federal Aviation Administration Type Inspection Authorization testing.